Standard BioTools (NASDAQ:LAB) Trading 7.1% Higher – Should You Buy?

Standard BioTools Inc. (NASDAQ:LAB) shares were up 7.1% during trading on Friday . The company traded as high as $1.43 and last traded at $1.43. Approximately 601,803 shares were traded during trading, a decline of 68% from the average daily volume of 1,865,265 shares. The stock had previously closed at $1.33.

Analyst Ratings Changes

Separately, TD Cowen decreased their price objective on Standard BioTools from $2.75 to $2.50 and set a “buy” rating on the stock in a research note on Thursday, October 31st.

Standard BioTools Stock Up 6.0 %

The business has a 50 day simple moving average of $1.74 and a 200-day simple moving average of $1.82.

Institutional Trading of Standard BioTools

A number of hedge funds have recently added to or reduced their stakes in LAB. Wolverine Trading LLC purchased a new position in shares of Standard BioTools in the 3rd quarter worth about $27,000. Takeda Pharmaceutical Co. Ltd. purchased a new position in shares of Standard BioTools in the 4th quarter worth about $29,000. Two Sigma Securities LLC purchased a new position in shares of Standard BioTools in the 4th quarter worth about $30,000. Nisa Investment Advisors LLC raised its holdings in shares of Standard BioTools by 433.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock worth $35,000 after purchasing an additional 14,732 shares during the period. Finally, Creative Planning purchased a new position in shares of Standard BioTools in the 3rd quarter worth about $39,000. 53.74% of the stock is owned by institutional investors and hedge funds.

Standard BioTools Company Profile

Standard BioTools Inc, together with its subsidiaries, provides instruments, consumables, reagents, and software services for researchers and clinical laboratories in the Americas, Europe, the Middle East, Africa, and the Asia pacific. It operates through two segments: Proteomics and Genomics. The company offers analytical systems, such as CyTOF XT System, a CyTOF XT mass cytometry system performs automated high-parameter single-cell analysis using antibodies conjugated to metal isotopes; and Hyperion XTi imaging system, a spatial biology instrument.